“We are thrilled
to be working with SkyNRG, the global market leader in educating,
cultivating and supplying the rapidly growing market for renewable
aviation fuels.”

While both companies acknowledged that a cost-competitive, large-scale
supply of aviation fuel derived from algae is not yet a reality, they
cited significant progress and a marketplace eager for an alternative
supply of renewable fuel.

“We fully understand that algae-based jet fuel is in its infancy,” said
SkyNRG Managing Director Dirk Kronemeijer. “But we firmly believe in
algae’s promise as a source of truly renewable aviation fuel, and our
aviation customers are, of course, very keen to see sustainable
alternatives to fossil fuel that, in time, can be cost competitive. We
see it as our mission to partner with firms like Heliae that are helping
to make these alternatives a reality. We’re truly impressed with the
long term vision and commitment of Heliae’s shareholders and with
Heliae’s technical progress to date.”

“Heliae’s team is developing the necessary technology to drive down the
production costs of algae-based fuels to a level that legitimately
competes with fossil fuels,” said Heliae CEO Dan Simon. “We are thrilled
to be working with SkyNRG, the global market leader in educating,
cultivating and supplying the rapidly growing market for renewable
aviation fuels.”

About Heliae

Heliae develops, designs, and delivers cost-effective technology
solutions that enable sustainable, industrial-scale production of food,
fuel, and bio-chemicals from algae. As innovators and integrators of
technology, our processes help companies worldwide convert free sunlight
and industrial waste-streams into the affordable, renewable food and
drop-in transportation fuels that our growing world requires. Learn more
at: www.Heliae.com

About SkyNRG

SkyNRG is a Dutch company with the mission of creating the market for
sustainable, affordable jet fuel. The company is working with some of
the world’s leading airlines, integrating a complete supply chain for
sustainable jet fuels into their short and long term strategy. From
feedstock-to-flight, the supply chain covers elements such as strict
selection of sustainable feedstock, refining contracts, distribution to
any airport in the world, quality assurance, to-plane fuel service,
insurance, marketing and project co- funding with airports and end
customers. Learn more at www.SkyNRG.com